Elo Mutual Pension Insurance Co Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Elo Mutual Pension Insurance Co purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 124,467 shares of the bank’s stock, valued at approximately $1,640,000.

Other institutional investors have also recently bought and sold shares of the company. Boston Partners increased its stake in shares of Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after buying an additional 9,533,511 shares in the last quarter. KBC Group NV lifted its holdings in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after buying an additional 3,729,974 shares in the last quarter. National Bank of Canada FI boosted its position in Huntington Bancshares by 832.7% in the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after buying an additional 2,979,768 shares during the last quarter. Scout Investments Inc. acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at $35,428,000. Finally, Bank of Nova Scotia raised its position in shares of Huntington Bancshares by 641.5% during the fourth quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock worth $35,301,000 after acquiring an additional 2,401,067 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 0.7 %

NASDAQ:HBAN opened at $14.86 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The business’s 50-day simple moving average is $14.34 and its 200-day simple moving average is $13.73. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The stock has a market capitalization of $21.54 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period last year, the company posted $0.35 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s payout ratio is presently 55.86%.

Analysts Set New Price Targets

Several research firms recently issued reports on HBAN. Robert W. Baird cut Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Friday, July 26th. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Argus boosted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley upped their target price on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

Insiders Place Their Bets

In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,622 shares of company stock worth $1,762,904. Corporate insiders own 0.89% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.